The consumer price index July was up 3.2% from a year ago. Excluding food and energy, core CPI was up 4.7%.

On a month over month basis, both figures were up just 0.2%.

Nothing too surprising in the data. It’s all in line with the idea we can get that goldilocks soft landing scenario where inflation eases without the economy going into recession.

You can get all the details here: bls.gov/news.release/pd…

Chart from Bloomberg’s Michael McDonough using the ECAN<GO>